Elon Musk's announcement of the launch of Grok 3, an AI chatbot developed by his company xAI, caused the Grok token to surge 82% on Sunday. Traders rushed to capitalize on the hype, driving the token's market cap to around $33.51 million. Despite xAI having no direct ties to the Grok token, investor enthusiasm remained high. However, questions remain about the sustainability of the rally and the lack of fundamental backing for the token. This surge highlights Musk's influence in driving market activity, particularly when it comes to AI and blockchain. While xAI is an underdog in the AI space, it faces competition from OpenAI's ChatGPT and Google's Gemini. The success or failure of Grok 3's launch could have wider implications for both AI and speculative crypto markets.



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